Toss noodles and peanuts together in large bowl. Melt chips in a double boiler, stirring frequently. Pour chocolate over peanuts and noodles, mixing thoroughly. It will very quickly be cool enough for the kids to work with.

Let them make spider shapes or whatever their imagination calls for. Be sure and provide plenty of decoration options, like cinnamon red-hots for the "black widow hourglass" on the belly and sprinkles to make eyes and such.